LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global artificial organs market is expected to grow at a CAGR of around 10% during the period 2018-2022, according to their latest market research report.
The emergence of total artificial hearts (TAH) is one of the major trends being witnessed in the global artificial organs market 2018-2022. TAH has emerged as an effective treatment option for patients with end-stage biventricular heart failure, awaiting orthotopic heart transplantation. Their use as an intermediate to heart transplantation was recently approved globally.
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According to Technavio analysts, one of the key factors contributing to the growth of the global artificial organs market is the increasing prevalence of chronic disorders:
Global artificial organs market: Increasing prevalence of chronic disorders
The increase in the prevalence of cardiovascular diseases (CVDs) such as strokes and cardiac diseases, diabetes, chronic kidney diseases, hearing disorders and rise in aging population are likely to increase the demand for artificial organs. The rise in physical inactivity and unhealthy diets has led to an increase in chronic diseases and cardiovascular disorders leading to an increase in demand for devices such as pacemakers and total artificial hearts.
According to a senior market research analyst at Technavio, “The global artificial organs market is highly competitive, and vendors are offering differentiated novel products to sustain in the market and gain revenues. Several manufacturers are focusing on developing artificial organs with improved patient comfort. Manufacturers are also making significant investments in R&D to cater to the requirements of end-users. This is expected to result in new developments and clinical applications of artificial organs.”
Global artificial organs market: Segmentation analysis
The global artificial organs market research report provides market segmentation by product (artificial heart, artificial kidney, cochlear implants, and artificial pancreas), by end-user (hospitals and clinics, ASCs, dialysis centers, and others), and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The hospitals and clinics segment was the largest end-user segment in 2017 with a market share of 45%. Hospitals provide all the treatment services for chronic diseases with minimally invasive surgeries. Large hospitals have more than 500 hospital beds and they provide many inpatient and outpatient medical facilities.
The Americas held the largest share of the market in 2017, accounting for close to 47% share, followed by the EMEA and APAC respectively. Although APAC held the smallest share of the market, it is expected to witness the maximum increase in its market share over the forecast period owing to the presence of a large patient pool and improvements in hospital infrastructure. Japan, China, and Australia are the major revenue contributors in the region.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market sizing
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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